Evergold Corp (TSX-V:EVER, OTC:EVGUF) said it has filed an independent technical report on its newly optioned DEM project in central British Columbia.
The report details the property’s geological setting, focusing on the DEM Halo copper-gold-silver porphyry prospect, and recommends a two-phase work program in follow-up.
“Phase I will include an expanded soil geochemical survey, geological mapping and four helicopter supported diamond drill holes from two drill pad locations at an estimated cost of $724,500. Phase 2, which will be contingent upon the receipt of positive results from Phase 1, would entail expanded induced polarization and airborne magnetic surveys, data compilation, and systematic fences of diamond drill holes,” the company said in a statement.
Evergold noted, as previously announced, that it has the right to earn a 100% ownership interest in the property in exchange for staged cash payments over four years totaling $980,000, in addition to escalating work commitments totaling $5 million.